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Sony cuts ties with FIFA

Sony has decided not to renew a multi-million-dollar sponsorship contract with FIFA due to the fact that the finanicially depleted electronics firm is set to undergo a painful restructuring.

In addition, the Japanese company no longer want to be associated with world football's governing body who are currently embroiled in controversy surrounding selections of the 2018 and 2022 World Cups in Russia and Qatar respectively.

Japan’s leading Nikkei business daily said the eight-year, $280 million contract, which expires this year, would not be re-negotiated owing to worries that a new deal would be even more costly.

“Our company wants to refrain from commenting,” a Sony spokeswoman said.

South Korea’s Samsung is rumoured to be Sony’s successor in the FIFA sponsorship.